SENS- Friday, 02 March 2018

HUDACO INDUSTRIES LIMITED - Director's associate dealing in securities

HDC 201803020020A Director's associate dealing in securities Hudaco Industries Limited ('Hudaco' or 'the company') Incorporated in the Republic of South Africa Registration number: 1985/004617/06 Share code: HDC ISIN code: ZAE000003273 DIRECTOR'S ASSOCIATE DEALING IN SECURITIES Name of the company : Hudaco Name of director : GR Dunford Status : Chief executive Information regarding the : GR Dunford owns 60% of the issued shares of associate and the Dunford Holdings (Pty) Ltd (DH) and he transactions mentioned therefore benefits indirectly from the below transaction detailed below. The remaining shares in DH are held by TB Dunford, GR Dunford's brother. Rationale for the : With effect from 1 December 2013 DH sold transaction 100% of the shares of Dosco Precision Hydraulics (Pty) Ltd, Gear Pump Manufacturing (Pty) Ltd, Joseph Grieveson (Pty) Ltd and Engineering Technology Services (Pty) Ltd to Hudaco Trading (Pty) Ltd, 85% owned by Hudaco. One of the conditions of sale agreement required DH to purchase a maximum of 927 000 Hudaco shares on the open market, which shares were to be retained for a minimum period as follows: a maximum of one-third may be sold after one year, a further one-third after two years and the balance after three years. The total of 927 000 shares that were held by DH in terms of the sale of shares agreement were released from their lock-up period by 30 November 2016. As part of a strategy to diversify its investment portfolio, DH has disposed of approximately one-third of its holding in Hudaco to certain collective investment schemes in exchange for the issuance of new units in those schemes by the acquirers. Date of transaction : 28 February 2018 Nature of transaction Sale of 323 600 ordinary Hudaco shares :: Sale of 323 600 ordinary Hudaco shares (off-market). (off-market). Price per share : Closing market price of R158.00 Value of transaction : R51 128 800 Clearance obtained for : Yes all the transactions mentioned above Edenvale 2 March 2018 Sponsor Nedbank Corporate and Investment Banking Date: 02/03/2018 08:56:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.